Bachmann/Partners Law Firm assisted a majority shareholder in a case concerning auditor´s professional responsibility and liability. The Western High Court ruled that the audit firm had acted wrongfully by calculating an interim account between the shareholder and his company with an incorrect amount. This wrongfully calculation gave rise to an illegal shareholder loan that constituted as an taxable event.
The audit firm was held liable to compensate the shareholder regardless of the fact that the shareholder had contributed to the wrongful calculation. The shareholder’s claim was found to be partially warranted.